Property Tax Exemptions For Senior Citizens And Disabled Persons - Washington State Department Of Revenue Page 2
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6Property used as a vacation home is not
The income of a person, other than a
eligible for the exemption program.
spouse, who does not have ownership
interest and lives in your home. However,
You must own the home for which the exemp-
the application must show any income the
tion is claimed, either in total (fee owner), as a
person contributes to the household, or
contract purchaser, mortgagee, deed of trust or
as a life estate (including a lease for life). If
The income of a person who has owner-
you transfer your home under a revocable trust
ship interest and lives elsewhere. How-
agreement, you must retain the full use of the
ever, if someone living elsewhere has any
property and be able to revoke the trust and
ownership interest, the amount of your
take ownership at any time. Irrevocable trusts
exemption will be based on the percentage
qualify, if they can be deemed a life estate.
of your interest in the property.
A home owned by a married couple or by co-
tenants is considered owned by each spouse
COMPUTING DISPOSABLE INCOME
or co-tenant. Only one person must meet the
age or disability requirement.
The maximum amount of annual income you
If you share ownership in a cooperative hous-
may receive to qualify for the exemption is
ing unit and your share represents the specific
$30,000. The disposable income you receive
unit or portion where you live, you will be
during the year you apply determines your
eligible for the exemption on your unit.
eligibility. (The assessor will require proof of
income.) Disposable income includes all
Leasehold Interest
sources, whether or not they are taxable for
federal income tax purposes. Losses and
depreciation may not be deducted. Some of
If your primary residence or the land under
the most common sources of income include:
your primary residence is owned by a govern-
ment entity, you are eligible for a comparable
Wages, salaries, and tips.
exemption, if you meet the minimum qualifica-
tions.
Social Security benefits.
Household Income
Railroad retirement benefits.
Your annual household income may not
Pension and annuity receipts, including
exceed $30,000. If your household income is
retirement bonds, Individual Retirement
between $30,000 and $34,000, you may
Accounts, and distributions from Keough
qualify for the deferral program. See the fact
plans. An annuity
sheet titled Information on Washington’s Tax
is a payment of a
Structure—Property Tax Deferrals for Senior
fixed sum of
Citizens and Disabled Persons for more
money received
information about the program.
at regular inter-
vals. Some
examples of
Household income includes your disposable
annuity payments
income, that of your spouse, and any
include unem-
cotenants. A cotenant is a person living in
ployment com-
your home who also has an ownership inter-
pensation, dis-
est. Household income does not include:
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